First Gas Flows from Ultra-Deepwater Development in the Eastern Gulf of Mexico

The Atwater Valley Producers Group, consisting of Anadarko Petroleum
Corporation (NYSE:APC), Devon Energy Corporation (NYSE:DVN), Eni
(NYSE:E) and Hydro (NYSE:NHY), along with the owners of the Independence
Hub, Enterprise Products Partners L.P. (NYSE:EPD) and Helix Energy
Solutions Group, Inc. (NYSE:HLX) today announced that first production
from the record-setting Independence Hub project has been achieved on
schedule and within budget.

Located in 8,000 feet of water on Mississippi Canyon block 920,
approximately 123 miles southeast of Biloxi, Miss., the Independence Hub
is the deepest production platform ever installed and also is the world’s
largest offshore natural gas processing facility.

Natural gas production through the Hub began on July 19, 2007, from the
first of 15 subsea wells located in 10 anchor fields. The producers
expect to ramp up production toward the Hub’s
capacity of 1 billion cubic feet of natural gas per day (Bcf/d) by late
2007.

“The Independence project is a remarkable
accomplishment by our industry,” Anadarko
Chairman, President and CEO Jim Hackett said. “It
is a true testament to the collaboration of the partners and the
ingenuity of the individuals who worked to deliver these once
unreachable resources to American consumers. Together we achieved first
production on time and within budget from a world-record-setting
facility in an ultra-deep area of the Gulf where previously there was no
infrastructure.”

First sales were received from the Atlas #1 well located on Lloyd Ridge
block 50. The well is expected to ramp up to a rate of approximately 50
MMcf/d over the next week. The block was awarded as a result of Lease
Sale 181 in 2001, which opened a new area of the eastern Gulf of Mexico
to exploration. Most of the additional 14 wells have been completed and
flow-tested -- the majority of which demonstrated flow rates above 50
MMcf/d -- and will be brought on stream one at a time during 2007.

The Independence Hub is a 105-foot, deep-draft, semi-submersible
platform with a two-level production deck. The natural gas processed
through the Hub when operating at full capacity represents an increase
of more than 10 percent in supplies from the Gulf of Mexico. The
platform is operated by Anadarko and owned 80 percent by Enterprise and
20 percent by Helix. Anadarko has reserved approximately 61 percent of
the capacity on the Hub, Eni approximately 20 percent, Hydro 12.5
percent and Devon 6.5 percent.

The Independence Trail pipeline, 100-percent owned and operated by
Enterprise, connects the Hub platform to onshore markets via an
interconnect with the Tennessee Gas Pipeline at Enterprise’s
West Delta block 68 shallow-water manifold platform. The pipeline is
approximately 134 miles long, 24 inches in diameter and has the capacity
to transport up to 1 Bcf/d.

The Independence project set numerous world records during its
construction and installation, which include:

The world’s deepest platform in
approximately 8,000 feet of water

The world’s deepest subsea production tree
in 9,000 feet of water at the Cheyenne field

The world’s deepest steel catenary riser
(SCR) installation

The world’s deepest export pipeline and
SCR, originating in approximately 8,000 feet of water

“We are proud to be associated with this
groundbreaking project and all of the individuals whose contributions
have set new standards in offshore engineering and technical achievement,”
said Enterprise President and CEO Dr. Ralph S. Cunningham. “We’re
confident that Independence will serve as the blueprint for future
deepwater development and a model of strong teamwork.”

Statements in this news release regarding the companies’
or managements’ intentions, beliefs or
expectations, or that otherwise speak to future events, are
"forward-looking statements" within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995.These forward-looking
statements include those statements preceded by, followed by or that
otherwise include the words “expected,”“will” or similar
words.In addition, any statements regarding possible
commerciality, development plans, capacity expansions, drilling of new
wells, future production rates, and changes in any of the foregoing are
forward-looking statements.Future results and developments
discussed in these statements may be affected by numerous factors and
risks, such as the accuracy of the assumptions that underlie the
statements, the success of the oil and gas exploration and production
programs, the price of oil and gas, drilling risks, uncertainties in
interpreting engineering data, demand for consumer products for which
the companies’ oil and gas businesses supply
raw materials, the financial resources of competitors, changes in laws
and regulations, the ability to respond to challenges in international
markets (including changes in currency exchange rates), political or
economic conditions in areas where the companies operate, trade and
regulatory matters, general economic conditions, and other factors and
risks identified in the Risk Factors section of the companies’
Annual Reports on Form 10-K and other U.S. Securities and Exchange
Commission filings.Actual results and developments may differ
materially from those expressed or implied in this news release.

Details on Anchor Fields:

Atlas and Atlas NW (Lloyd Ridge blocks 5/49/50)

Anadarko discovered the Atlas field in June 2003 in 9,000 feet of water.
A satellite discovery, Atlas NW, followed in January 2004. Anadarko
holds a 100-percent interest in the fields.

Anadarko discovered the Jubilee field in April 2003 in 8,800 feet of
water. Anadarko holds a 100-percent interest in the field.

Merganser (Atwater Valley blocks 36/37)

Merganser was discovered in December 2001 by a subsidiary of Anadarko.
It is located in a water depth of 7,900 feet. Anadarko operates the
field with a 50-percent working interest. Devon Energy holds the
remaining 50-percent working interest.

San Jacinto (DeSoto Canyon blocks 618/619)

Natural gas was discovered at the San Jacinto field in April 2004 in
7,850 feet of water. Eni operates the field with a 53.3-percent working
interest. Hydro holds a 26.7-percent working interest and Anadarko has a
20-percent working interest.

Spiderman (DeSoto Canyon blocks 620/621)

Anadarko discovered the Spiderman field in November 2003 in a water
depth of 8,087 feet. Anadarko is the operator and holds a 45-percent
working interest. Eni holds a 36.7-percent interest and Hydro holds an
18.3-percent interest.

Vortex (Atwater Valley blocks 217/261 and Lloyd Ridge blocks
177/221)

The Vortex field was discovered in December 2002 and is located in a
water depth of 8,344 feet. Anadarko holds a 100-percent interest in the
field.

Mondo NW (Lloyd Ridge blocks 1/2)

Anadarko discovered the Mondo NW field in December 2004 in approximately
8,300 feet of water. Anadarko operates Mondo NW with a 50-percent
working interest. Murphy Exploration & Production Company holds the
remaining 50-percent working interest.

Q (Mississippi Canyon blocks 960/961/1004/1005)

The Q field was discovered in June 2005 in 7,925 feet of water. Q is
operated by Hydro with a 50-percent working interest. Eni holds the
remaining 50-percent working interest.

Cheyenne (Lloyd Ridge block 399)

Anadarko discovered the Cheyenne field in January 2005. It has the world’s
deepest subsea production tree in approximately 9,000 feet of water.
Anadarko holds a 100-percent interest in the field.

Anadarko Petroleum Corporation’s
(NYSE:APC) mission is to deliver a competitive and sustainable rate
of return to shareholders by exploring for, acquiring and developing oil
and natural gas resources vital to the world’s
health and welfare. As of year-end 2006, the company had 3.0 billion
barrels-equivalent of proved reserves, making it one of the world's
largest independent exploration and production companies. For more
information about Anadarko, please visit www.anadarko.com.

Devon Energy Corporation (NYSE:DVN) is an Oklahoma City-based
independent energy company engaged in oil and gas exploration and
production. Devon is one of the world's leading independent oil and gas
producers and is included in the S&P 500 Index. For additional
information, visit www.devonenergy.com.

Eni SpA (NYSE:E) is an integrated energy company, committed to
growth in the activities of finding, producing, transporting,
transforming and marketing oil and gas. In all areas in which the
company operates, it can boast an excellent level of competence and
strong international market positions. Eni is active in about 70
countries with a staff of 73,572 people and the company is listed on
both the Milan and the New York (NYSE) stock exchanges. Visit www.eni.it.

Enterprise Products Partners L.P.(NYSE:EPD) is a publicly
traded partnership with an enterprise value of more than $19 billion
that provides midstream energy services to producers and consumers of
natural gas, natural gas liquids and crude oil in North America.
Enterprise transports natural gas, NGLs and crude oil through more than
35,000 miles of onshore and offshore pipelines. Services include natural
gas transportation, gathering, processing and storage; NGL fractionation
(or separation), transportation, storage, and import and export
terminaling; crude oil transportation and offshore production platform
services. For more information, visit Enterprise on the web. Enterprise
Products Partners L.P. is managed by its general partner, Enterprise
Products GP, LLC, which is wholly owned by Enterprise GP Holdings L.P.
(NYSE:EPE), a publicly traded GP partnership with an enterprise value of
more than $6 billion. For more information on Enterprise GP Holdings
L.P., visit www.enterprisegp.com.

Helix Energy Solutions (NYSE:HLX), headquartered in Houston,
Texas, is an international offshore energy company that provides
development solutions and other key life of field services to the open
energy market as well as to our own oil and gas business unit. That
business unit is a prospect generation, exploration, development and
production entity. Employing our own key services and methodologies, we
seek to lower finding and development costs, relative to industry norms.

Hydro (NYSE:NHY) is one of the world’s
leading suppliers of energy and aluminum, with 33,000 employees in
nearly 40 countries. For additional information, please visit www.hydro.com.